Sio Capital Management LLC Takes Position in CARGO Therapeutics, Inc. (NASDAQ:CRGX)

Sio Capital Management LLC bought a new position in CARGO Therapeutics, Inc. (NASDAQ:CRGX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 173,860 shares of the company’s stock, valued at approximately $3,208,000. CARGO Therapeutics comprises approximately 1.3% of Sio Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Sio Capital Management LLC owned 0.38% of CARGO Therapeutics at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Yu Fan purchased a new position in shares of CARGO Therapeutics in the second quarter worth approximately $14,975,000. Cowen AND Company LLC increased its holdings in CARGO Therapeutics by 121.7% in the 2nd quarter. Cowen AND Company LLC now owns 554,305 shares of the company’s stock worth $9,102,000 after acquiring an additional 304,305 shares in the last quarter. Vanguard Group Inc. raised its stake in CARGO Therapeutics by 179.5% during the 1st quarter. Vanguard Group Inc. now owns 1,116,293 shares of the company’s stock worth $24,916,000 after acquiring an additional 716,868 shares during the period. TD Asset Management Inc lifted its holdings in CARGO Therapeutics by 78.7% during the second quarter. TD Asset Management Inc now owns 289,352 shares of the company’s stock valued at $4,751,000 after purchasing an additional 127,418 shares in the last quarter. Finally, CVI Holdings LLC bought a new position in shares of CARGO Therapeutics in the second quarter worth approximately $1,149,000. Institutional investors own 93.16% of the company’s stock.

CARGO Therapeutics Stock Up 2.6 %

Shares of NASDAQ CRGX opened at $17.67 on Friday. CARGO Therapeutics, Inc. has a twelve month low of $13.56 and a twelve month high of $33.92. The business has a fifty day simple moving average of $19.46 and a two-hundred day simple moving average of $18.39.

CARGO Therapeutics (NASDAQ:CRGX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.26. As a group, sell-side analysts expect that CARGO Therapeutics, Inc. will post -3.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CRGX. Chardan Capital reissued a “buy” rating and set a $28.00 price target on shares of CARGO Therapeutics in a research note on Wednesday, November 13th. Piper Sandler cut their target price on shares of CARGO Therapeutics from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. William Blair started coverage on shares of CARGO Therapeutics in a research note on Tuesday. They set an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of CARGO Therapeutics in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $30.33.

Insider Activity at CARGO Therapeutics

In other CARGO Therapeutics news, CFO Anup Radhakrishnan sold 1,600 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $25.28, for a total value of $40,448.00. Following the completion of the sale, the chief financial officer now directly owns 6,446 shares in the company, valued at approximately $162,954.88. This trade represents a 19.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gina Chapman sold 2,975 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.03, for a total value of $74,464.25. Following the completion of the sale, the chief executive officer now directly owns 103,905 shares of the company’s stock, valued at approximately $2,600,742.15. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. 1.38% of the stock is currently owned by corporate insiders.

CARGO Therapeutics Profile

CARGO Therapeutics, Inc, a clinical-stage biotechnology company, develops chimeric antigen receptor (CAR) T-cell therapies for cancer patients. The company's lead program is CRG-022, an autologous CD22 CAR T-cell product candidate designed to address resistance mechanisms by targeting CD22, an alternate tumor antigen that is expressed in B-cell malignancies.